Dow opens sharply higher after strong jobs report

Stocks are opening sharply higher after the government reported that more jobs were created last month than analysts had been expecting.

The news reassured investors following the worst trading day since 2008.

There were 117,000 jobs created in the U.S. in July. Also job figures for May and June were not as bad as previously reported. Hiring would still have to double to cut unemployment.

Fears that the economy might dip back into recession helped send the Dow down 513 points on Thursday. Asian markets plunged Friday. European leaders are struggling to contain that region’s debt crisis.

The Dow is up 133, or 1.2 percent, at 11,517. The S&P 500 is up 15 points, or 1.2 percent, at 1,215. The Nasdaq composite is up 21, or 0.8 percent, at 2,577.